ANNUAL REPORT

2017

reSET is a non-profit organization whose mission is to

advance the social enterprise sector. Its strategic goals are

threefold: to be the “go-to” place for impact entrepreneurs,

to make Hartford the Impact City, and Connecticut the social

enterprise state.

reSET serves all entrepreneurs, but specializes in social

enterprise - impact driven business with a double and

sometimes triple bottom line. In addition to providing co-

working space and accelerator and mentoring programs,

reSET aims to inspire innovation and community collaboration,

and to support entrepreneurs in creating market-based

solutions to community challenges. reSET’s goal is to meet

entrepreneurs wherever they are in their trajectory and to help

them take their businesses to the next level.

vv

2017 marked reSET’s tenth anniversary. It’s hard to believe it’s

been that long since we began supporting Greater Hartford’s

entrepreneurial ecosystem. But three offices, a handful of core

programs and a successfully passed benefit corporation law

later, and we’re still helping build strong entrepreneurs who

are solving critical problems and creating impact. We’ve just

zeroed in on our strengths and are working more strategically

than before!

Our primary focus last year was on recruiting our most competitive accelerator appli-

cant pool yet (we received 110+ submissions from allover the world and 20 ventures

began their journey with us in early 2018).

At this stage in reSET’s development, we’ve also been focused on partnership building.

With more and more organizations looking to serve local entrepreneurs, we’re now tak-

ing a closer look at how we can avoid duplicating efforts. One way we’re achieving this

is through our collaborations with corporations, government, educational institutions,

and other community stakeholders.

For example, we were excited to recently announce a partnership with long-time-friend

Breakfast, Lunch & Dinner (BL&D). BL&D is the Parkville-based community develop-

ment platform behind the KNOW GOOD Market. We’ve always prided ourselves on being

one of the most inclusive entrepreneurial networks around. And we hope that has been

reflective in our intentional recruitment of mentors, professionals and businesses of

varying backgrounds, perspectives, ethnicities, professions, age groups and socioeco-

nomic statuses. But by working with BL&D to promote community building, entrepre-

neurship and investment, we know we can make a tangible, positive social impact in

this city.

LETTER TO THERESET COMMUNITY

Ojala NaeemManaging Director

3

As we continue to oversee all of reSET’s programming (Accelerator, Internship, Mentor

Network and entrepreneurial support services), BL&D will be assisting with our office’s

coworking and event operations.

Looking ahead, we’ll be making a concerted effort to establish a handful of sustainable

funding sources. reSET has been quite fortunate to receive financial and other support

from a number of allies through the years. However in order to take our work to the next

level, we need to get to a point where we’re not constantly in fundraising mode.

4

[continued]

Ojala NaeemManaging Director

OUR SUPPORTERS

Founding Partner The Walker Group

Strategic Partners Hartford Foundation for Public Giving

Connecticut Innovations/CT NextCT Dept. of Economic & Community Development

Leadership PartnerTravelers Foundation

Catalyst PartnersMurtha Cullina LLP

Newman’s Own FoundationThe Hartford

Supporting PartnersBank of America

Metro Hartford Alliance

General PartnersAARP

Beekley CorporationExpress Strategies

GoodWorks InsuranceQualidigm

The Harry E. Goldfarb Family Foundation Trinity College

University of CT, Center for EntrepreneurshipUniversity of Hartford

Webster Bank

reSET offers entrepreneurs a place where they can go to cowork, forge relationships, and receive

the type of support that they need to bring their enterprises to the next level. With each year that

passes, reSET and our regular stream of events are increasingly making a contribution to the

exciting activity happening in our state’s capitol.

Networking is another integral part of reSET membership. We work hard to make connections for our

entrepreneurs with leaders in the academic/NGO, government, mainstream and small business, and

financial spheres. To that end, members can engage with like-minded professionals and investors

through our Mentor Network or at our quarterly and biannual pitch happenings: “Flight Night” and

“Venture Showcase.” They may meet with the many professionals who keep regular office ours with

us as well: Murtha Cullina LLP (legal consultations); Business Advisor Denise Whitford; Pullman &

Comley LLC (legal consultations); and Entrepreneur-In-Residence Eric Knight.

Coworking/Membership

6

Brandi is the epitome of someone who works hard and plays hard. Last year while commuting back-and-forth between Connecticut and New York, where she still held a full-time job with an after-school enrichment program, she began working on her own business out of reSET. CNG Fit LLC provides fun, affordable, convenient and effective non-traditional workouts. She originally sought us out for coworking, but it was not long before she discovered a whole lot more support. To date, she has used our office and resources to hold meetings and events, consult legal experts, hire an intern, bounce ideas off others, etc. On top of teaching regular fitness classes in the area, she is currently enrolled in our 2018 accelerator and is looking forward to launching a series of events in other cities later this year. We wish her the best of luck!

COMMUNITY SPOTLIGHTCNG Fit

Brandi KilbourneCNG Fit

70 Members

andCo-workers

38 Events

andWorkshops

1,526Event

Participants

145Community

Partnerships

290Entrepreneurs

Served

IMPACT ACCELERATOR

reSET’s Impact Accelerator is a 4-month program designed to provide entrepreneurs with access

to the knowledge and resources that they need to grow their businesses and impact. The program

connects participants to early stage customers and industry-specific experts and mentors, and

provides them with coaching around important startup milestones.

The program was a past winner of the U.S. Small Business Administration’s Growth Accelerator

Competition, and was the only Connecticut accelerator to receive the award in 2015.

vv

A graduate of reSET’s 2017 accelerator, Luc Dang and his colleagues

at Phood were the big winners of our Venture Showcase last spring.

On top of a $4,000 Impact Award, they took home a $10,000 Tech

Impact Award, granted by our Founding Partner The Walker Group.

With the food waste dialogue on the rise worldwide, they have

created a waste tracking software that reduces commercial pre-

consumer food waste volume by up to 50% and cuts annual costs

between 1-5%. After completing their work with us, they leveraged

their experience and went onto MassChallenge, an accelerator

that is known around the globe for focusing on high-impact, early-

stage entrepreneurs. Over the past few months, Phood has been

implementing its technology at about 15 colleges in some capacity,

including UConn, Yale and Wesleyan. We can’t wait to see what they

do next!

IMPACT ACCELERATOR SPOTLIGHTLuc Dang

Luc DangCEO, Phood Solutions

7

YTDRevenue$5,955,989

Investmentto Date$6,945,500

Loans to Date

$157,500

Grants to Date

$3,722,260

Full Time Employees

58

Part Time Employees

175

Similar to college co-op programs that encourage students to apply what they are learning in the

classroom out in the real world, reSET’s Internship Program directly connects students with startups

while providing a comprehensive study of business model theory and design.

Through a four-month immersive experience, participants work alongside startups to advance their

work. The program is designed to equip students with skills in entrepreneurship and to provide

them with exposure to a diverse set of industries. Common project themes include developing and

executing promotional plans, content creation, market and funder research, product development,

business and sales strategy, and financial and performance analysis.

INTERNSHIP PROGRAM

8

65Projects

4,418Intern Hours

49Companies

Served

23 Interns

Isshi was one of nine summer interns we hosted last summer. In

addition to studying a rigorous entrepreneurship curriculum, she and

her peers drew up a business plan for Ever Bloom. They pitched Ever

Bloom as company that could sell high-end potted plants, produced

by people transitioning out of mental health facilities, wholesale. Six

weeks of research revealed that horticulture is increasingly being

recognized as a form of therapy for disorders like post-traumatic

stress, depression and anxiety. Isshi’s work was a product of our

first Intern Innovation Challenge in which we divided the cohort into

three teams and assigned a real-world problem that was not being

adequately addressed. Ever Bloom was the competition’s runner up!

INTERN SPOTLIGHTAiswarya (Isshi) Arul

Aiswarya (Isshi) ArulBabson College

The reSET Mentor Network provides a volunteer opportunity for Greater Hartford professionals to share

their unique business and life experiences with rising entrepreneurs, while simultaneously adding to their

own resumes. We have been told that the resulting relationship is evidence of the area’s current economic

revitalization.

Mentors interact with startups in several ways. Some engage occasionally as opportunities that align with

expertise arise. Others coach throughout reSET’s Impact Accelerator to help them reach milestones.

vv

From her office in Hartford, Denise strives to make a difference in the

lives of all the entrepreneurs that meet with her, and she definitely

has the experience to back her up. Denise has owned two of her own

businesses over the span of 25 years, and has advised clients as

part of the CTSBDC’s team of professional advisors since 2012. As a

Business Advocate and Advisor, Denise has managed all levels and all

scales of projects related to budget, administration and operational

functions.

In the months leading up to her joining reSET’s Board, Denise

hosted regular office hours out of the reSET Business Factory.

She immediately broadened our team’s experience and made our

entrepreneurs much more aware of CTSBDC’s wealth of services.

Knowing Denise, she has only scratched the surface in terms of

helping us manage our fundraising efforts and standardizing the way

we do things. We are very grateful to have her on board!v

MENTOR SPOTLIGHTDenise Whitford

Denise WhitfordCTSBDC

MENTOR NETWORK

9

127Mentors

694Pro Bono

Mentor Hours

$70,000+Est. Value of

Pro Bono Hours

FINANCIAL OVERVIEW

10

TESTIMONIALS

“In looking to start my business, especially as a solo entrepreneur, I was looking for a

welcoming, collaborative and supportive environment for guidance and networking.

reSET checked those boxes and more. The team there is so incredible, and maybe this

sounds cheesy, but I love being there. And when I’m there I know they just want me

and my company to succeed. It’s a special place.”10

— Ali Lazowski, President & CEO of Bare Life

“As a newbie entrepreneur with a tiny staff, I needed all the help I could possibly get.

I needed to be in an environment where everyone is making their startup machines

work. I needed to be connected with those who know more than I do about how to

keep a startup machine running. The reSET Accelerator program was the answer.”

— Brandi Kilbourne, Founder & CEO of CNG Fit

“When you’re in a startup, sometimes it’s as though you have blinders on. All you know

is what’s in front of you. Programs like the reSET accelerator help to take away those

blinders so you can look at the big picture and figure out the steps to take to get your

company from Point A to Point B.”

— Ben Grinnell, Managing Partner of CareerPath Mobile

“reSET has been an amazing resource for developing my second business. reSET

has not only provided me a model to grow my business, but most importantly, it has

provided the mentoring and networks I really need. It really levels the playing field for

someone who has great ideas, drive, and ambition but lacks the connections.”

— Kristine Schlichting, Ph.D., Chief Psychologist and Director of Hopewell Health

Solutions

11

TESTIMONIALS

“reSET has provided us with invaluable resources to help us make our dream a reality.

The organization provides everything from lawyers, accountants, co-working space,

and dedicated staff to help your business grow. We specifically chose to participate in

reSET’s accelerator because it specializes in social entrepreneurship. The program not

only offers guidance on how to take your startup to the next level, but also how to do

so in an ethical manner.”

— Lanna Nawa Co-Founder Impact Mart

“Connecticut is filled with talent, innovation, and resources. I am grateful to have had

the opportunity to be informed about the reSET accelerator.”

— Anthony Valentine, Founder of Kulture

“Through reSET I am able to connect with many mentors who have direct connections

to resources that I need to grow.”

— Matt Siracusa, Founder of WEWOO

11

vvreSET’s operations are made possible by generous contributions from a handful of

community partners and individual donors. Your support today will help us continue to

serve Greater Hartford’s entrepreneurial ecosystem, which is hard at work conceiving

solutions for the most pressing environmental and social issues.

To make a donation, visit:

www.reSETco.org/Donate

You can also connect with us online at:

www.resetco.org

/reSETco.org @reSETco_org @resetco

12

ANNUAL REPORT

2017